Article Highlights The Importance of Business Succession Planning The Main Issues The People Aspect The Money Aspect Cross-Purchase Agreements Entity-Purchase Agreements Sales, Gifts, and Inheritances Summary The Importance of Business […]

Recently, the Internal Revenue Service (IRS) has markedly intensified its efforts to uncover instances of tax evasion, leaving no room for tax dodgers to go unnoticed. A striking case that […]

Article Highlights: Partner Employee Issue Self-employment Tax If your partnership has been treating you and other partners as employees of a disregarded entity owned by the partnership so the partners […]

Few financial events are worse than a big tax bill with penalties from the IRS. If you are a spouse and you were unaware of potential errors or underreporting on […]

Article Summary: Home Sale Exclusion Primary Residence Second Home Fixer-upper Rental With careful planning, and provided you follow the rules, the tax code allows you to use the home sale […]

A recent Stanford study reviewed the aftermath of the Enron collapse and the repercussions to Enron’s accounting firm’s former clients. The primary trend they identified was when former clients issued accounting restatements […]

Kids are expensive. Whether someone just brought a bundle of joy home from the hospital, adopted a teen from foster care, or is raising their grandchild, there are several tax […]

Article Highlights: Sale of a Rental Property Converted to a Personal Residence Exclusion of Gain on Sale of Personal Residence – The Ownership and Use Tests Partial Exclusion of Gain […]

Article Highlights New 2023 Clean Vehicle Rules Income Qualifications MAGI Limits New Clean Vehicle Credits U.S. Department of Energy Index of Qualifying Vehicles Previously Owned Clean Vehicle Credit IRS Index […]

Even after making every effort to file a complete and accurate tax return, mistakes or omissions can happen, and inaccurate tax returns can be filed. Incorrect returns can be corrected […]

Article Highlights Advance Preparedness Cloud Storage Copies of Returns or Return Transcripts Records of Personal Residence and Real Property Vehicles Personal Property Business Records Hurricanes, fires, floods, tornadoes and other […]

On the one hand, it’s almost a prerequisite for entrepreneurs of all types to have that “can-do spirit.” That sense that nobody else sees things quite like they do so, […]

When it comes to income taxes, two things tend to be true every year. The first is that April will always roll around yet again, whether you like it or […]

Once people complete and file their tax return, many of them eagerly await any refund they may be owed. No matter how a taxpayer plans to use their tax refund, […]

Article Highlights: Information Filing Due Dates Calendar Year Nonprofits Fiscal Year Nonprofits Which Form To File Extension of Time to File Late Filing Penalty Failure To File For 3 Years […]

It doesn’t matter what age you are or how long it will be until you retire – most people spend at least a little time wondering how much money they’ll […]